City Comparison · Updated May 2026
Italy
COL index 58.4
Italy
COL index 70.4
Florence vs Milan — Cost of Living, Salary & Tax Compared (2026)
The verdict
Living in Florence is 17.0% cheaper than Milan for the same lifestyle.
Based on Q1 2026 COL index and median single-person expenditure.
Side-by-side stats
| Florence | Metric | Milan | Δ |
|---|---|---|---|
| 58.4 | Cost of living index | 70.4 | +20.5% |
| €50,000 | Median gross salary | €50,000 | 0.0% |
| €32,873 | Net at €50,000 gross | €32,873 | 0.0% |
| €1,380 | Rent — 1BR centre | €1,920 | +39.1% |
| €1,966 | Monthly COL (single) | €2,640 | +34.3% |
| €56,290 | PPP — net / COL | €46,695 | -17.0% |
| 34.3% | Effective tax @ €50,000 | 34.3% | 0.0% |
Monthly expenses — paired
Salary equivalence
€50,000 gross in Italy = €2,739 net monthly.
To have the same purchasing power in Milan, you would need roughly €62,340 gross in Italy (≈ €3,302 net monthly, adjusted for cost-of-living index).
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Pros & cons
- +Significantly cheaper rent (€1,380)
- −High rent-to-income ratio (50.4%)
- −High rent-to-income ratio (70.1%)
The verdict
Across the data, Florence carries a lower cost-of-living index; Florence wins on purchasing power after costs are netted out. If purchasing power is your north star, Florence edges it.
Frequently asked
Is Florence cheaper than Milan?+
Florence is cheaper. Cost-of-living index: Florence 58.4, Milan 70.4 — a 17.0% difference (Q1 2026).
What is the cost of living difference between Florence and Milan?+
Florence sits at 58.4 on our COL index, Milan at 70.4. That works out to roughly 17.0% — Florence being the cheaper of the two.
Is Florence a good place to live compared to Milan?+
It depends on priorities. Florence delivers €32,873 net on a €50,000 gross salary at a 34.3% effective tax rate. Milan delivers €32,873 at 34.3%. Centre 1-bed rent: €1,380 vs €1,920.
How do salaries compare in Florence vs Milan?+
On a €50,000 gross salary, take-home is €32,873/year (€2,739/month) in Florence and €32,873/year (€2,739/month) in Milan.
Which city has lower taxes, Florence or Milan?+
Italy has the lower effective rate at €50,000: Italy 34.3%, Italy 34.3%.